10 hard-hitting findings from a new report on how to monetise web traffic

How to make money from your online customer is one question that everybody wants to answer and a new report by EyeforTravel is packed with insights

A recent EyeforTravel whitepaper titled ‘Monetising web traffic in the travel industry’ gives the low-down on what travel brands need to know in a fast-changing world of fickle and demanding consumers. Here we highlight ten need-to-know findings of the report, with views from a cross-section of the online travel industry.

1.      Your online experience is absolutely critical for fickle consumers: This you know but just to cement the point, research from Expedia Media Solutions finds that a typical traveller will visit three search engines, five airline sites, five online travel agents and five research sites before making a purchasing decision. Consumers have that it’s important to have good knowledge of a product or service before they buy so give them what they want. So it’s important to be as be transparent and to give visitors as much information as possible.

2.      A mobile strategy isn’t a nice-to-have: A MMGY/Global Harrison Group 2013 report finds that the number of US travellers who use their smartphone to plan a trip has almost tripled in just two years, while those using a tablet rose from just 7% to 43% in the same period. So choose the information you put on those mobile sites very quickly.

3.      Do not confuse and frustrate mobile users: It’s of paramount strategic importance that smaller user interfaces engage and inform users. It’s about finding the right balance of information and making it simple to book. This is one reason why TripAdvisor introduced the instant booking feature on its metasearch site – which means the customers stays within the TripAdvisor site!  

4.      Know that real-time data is a real issue: With users being so fickle, and relying more heavily on metasearch (87% more American travel consumers use metasearch in 2013 than in 2010) the only way you can guarantee they’ll come back is to give them trustworthy real-time data so they know they are getting the best deal.

5.      The shift to search is happening: The OTAs, threatened by the growing fickleness of travellers, are trying to become more like search engines. They are doing that by attempting to offer the consumer all their travel options in one place. That said, Richard Harris, CEO of New York based advertising technology from Intent Media says all data points to the fact that that consumer will continue to cross-shop. Although investments are being made to improve customer loyalty and increase conversions.

6.      Think about whether to do display advertising: It’s already hard enough to get a consumer to your website, so why hand them an opportunity to click elsewhere? As Rod Welch, president of South Carolina-based OTA HotelGuides.com points out: “Lots of people come to our site, use the information and then call the hotel directly. That’s just life. But we don’t display advertising of any type [because] it’s hard to get these people, so to send them to somebody else is not what we want to do.”

7.      Experiment with monetising non-paying web traffic in several ways including cost per mille impressions: That’s what Spanish OTA Destinia has done and with some success. As just one example of what’s on the mind of Beatriz Oficialdegui, the organisation’s marketing director: “For travel advertisers I have to balance how much money I’m going to get from that campaign against how many sales I might lose.” Interestingly, they also target non-travel advertisers!

8.     Be like Amazon, but always keep the customer top of mind: Retarget, retarget, retarget, recognise the co-opetition and seamlessly integrate transaction and media interests, says Harris. Amazon have done this so successfully that nobody even realises just how aggressively their advertising strategy is.

9.      Monetise, monetise, monetise, but the best way to do that is to put the customer first: Monetisation may become the model of choice but remember this: Rather than thinking how can I monetise my customer, the question should be how can I further add value to my existing customers/visitors, says OneTwoTrip’s VP and on trip services, Bob Rogers.

10.  Recognise consumer intent and keep the customer centre stage: This is probably the most important thing you can get to grips with and you can’t do it without data driven technology has the capacity to differentiate between customers and non-customers. “Until you have that data in your hands it’s very hard to make a good decision,” says Thomas Jankowski, chief digital officer of Canada’s largest online travel company, Flight Network. The good news is, his company does and today they able differentiate with 95% accuracy.

To access the full report click here

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